May 19, 2009

Some people call the lottery a "stupid tax". The idea being that people are being taxed for their stupidity by playing the lottery because the odds of winning are so low. It is true that the odds of winning a mega lottery jackpot can be astronomical so its not "worth it" to spend $1 on a ticket. Would you spend $1 on a one in 100 chance of winning $20? Probably not. But many people will spend $1 on a one in 100 million chance of winning $20 million.

Thats not really the point of playing the lottery. The lottery is for entertainment purposes. Just like any other form of gambling the reason people spend $1 on a lottery ticket is that they enjoy doing so.

While playing the lottery in small amounts can be fun for entertainment purposes you need to make sure you don't go too far. You should spend half your paycheck on lottery tickets any more than you should spend half your paycheck on any other form of entertainment. You shouldn't expect to win either. The odds against a jackpot are very very very poor and odds of winning anything are not very good.

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